ONGC Reaches the Second Position and Reliance Industries Slips to Third

ONGC Reaches the Second Position and Reliance Industries Slips to ThirdReliance Industries slips to the third position as ONGC has claimed itself on the second position in terms of market capitalization, as its shares rose by 0.78% at Rs. 278 on BSE.

In the meantime, the BSE Sensex dropped 326.07 points, or 1.98%, to 16,143.72. ONGC through market capitalization has an equity capital of Rs. 4277.74 crore and the face value of it’s per share has been Rs. 5.

The ONGC stock hit a high of Rs. 280.90 and witnessed a low of Rs. 272 in the day. Its lowest was Rs. 226.95 on 15 July 2011, and the highest was at Rs. 368, on 28 September 2010 in the past 52-week trading.

ONGC ruled with the market capitalization of Rs. 237927.90 crore which was a bit higher than Reliance Industries' Rs. 237924.83 crore.

The net profit of ONGC climbed by 11.83% to Rs. 4094.90 crore and 18.7% rise in sales revenue was felt with Rs. 16268 crore in Q1 June 2011 against the analogous quarter of 2010. The subsidy burden of the India's largest state-run oil explorer inflated 118.4% to Rs. 12046 crore in Q1 June 2011 against the analogous quarter of the previous year.

However, Reliance Industries (RIL) dropped 1.80% to Rs. 726.65. The stock smashed at Rs. 722.55, the lowest in 52-weeks.